SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Thursday reported second-quarter net income of $189.3 million, after reporting a loss in the same period a year earlier.
The Santa Clara, California-based company said it had profit of $2.33 per share. Earnings, adjusted for one-time gains and costs, were $2.44 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.
The cloud networking company posted revenue of $608.3 million in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $605.6 million.
For the current quarter ending in October, Arista Networks said it expects revenue in the range of $647 million to $657 million.
Arista Networks shares have increased 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $272.11, an increase of almost 4% in the last 12 months.